St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-11-26
THE COMMERCIAL RECORD.
There was Somewhat Sensational News
on the Chicago Board of Trade
Yesterday.
Rain Threatened the Growing Winter
Wheat Crop With Unexpected
Disaster.
Transactions in the Financial Circles
Of Wall Street.-The General
Quotations.
Snecial to the Globe.

Special to the Globe.
CHICAGO, Nov. 25.-There was big trading
In grain and provisions at the opening this
morning, corn and pork leading. Wheat
opened 1ac off at 75ss075lsc for December
and S2ssQ S2Isc for May, on rains through
the winter wheat country. and strong ten
dency to short the market developed,
Schwartz, Dupee & Co. setting the pace. The
market hardened Immediately in sympathy
with corn and before 10 o'clock December
was quoted at 7614c, January at 7634c and
May at $3.50, with good buying all along the
line. Corn was bid up l20s4c right away by
the strong local combination that was bull
ing the market last week. December was
jumped from 445sc to 45c, January from
447sc to 45Isc and May from 4912c to SOC.
Light receipts made the nearby months firm
and speculative inquiry advanced May. st.
Louis also figured as q liberal buyer The
market was nervous and the shorts are in
tremor There was lively whirl in provis-
IONS Nat Jones came in to buy little pork
and the crowd bulled the market on him,
sending January pork from S13.S7I2 to
$1425, May pork from S14.40 to S14.75,
January ribs from S7.O2Ie to Sis, March
ribs from S7.22l2 10 $3.50, January lard
from S.. O2Ia to S7.12I2, and May lard from
$7S5 to STATE. From this range there
was
SLIGHT REACTION.
Speculation and merit, deferred merit, kept
corn strong all day. There was an excellent
and continued demand from all quarters
Floor brokers had a great many orders to fill
for local people, and the commission houses
did large business for country account.
The country is both buying and selling on a
generous scale. The public is taking kindly
to speculation in corn and the cribbers are
evailing themselves of the advance TO sell
against possessed property at better prices
than they hoped to get SO early in the season.
May corn cross ed soc early in the day and
under whip and spur climbed 10 5OS4c 1t
remained there only moment and slid back
to 50I2c. Up to within twenty minutes of
the end of the long session it ranged from
5OIa@50ss@5 O34c. the bulk of the trading
being at 5OIs@5O3sc There was no conspic-
uous individual selling. but the bulls sold a
good deal of property while feeling for the
top" The shorts aIe getting exceedingly
nervous but there are
SEVERAL LARGE LINES
still out The bulls profess to believe that
the market is pointed for 60c, and that
it will pass 55c before the close of next
week. For cash corn 46I2c was freely bid
this morning by shippers. The market set
tied back I2c from the best prices of the
morning and closed at l o'clock with de-
eided recovery from the depressions Wheat
moved up and down in sympathy with corn.
December ranged 755s@79l2c, and May S2sS
@S3ssc. resting ssc below the top at clock
The market was not especially active, corn
and provisions claiming the attention of the
scalping crowd. Oats took an upward jump,
May going from 311s TO 32A. Robert War
rem d Jones. Mccormick & Kaennet were
most active buyers of May, and small shorts
were bidding as high as 29I2c for gilt-edged
receipts to fill outstanding November con-
tracts, of which there are good many yet
outstanding. This is l4c above Wednes
days asking price. Most of the cash oats are
in the grip of the elevator people. Pro-
visions were controlled by corn. There was
sharp break in the market after the early
bulge. but prompt recovery followed and the
highest point of the day was reached shortly
before noon, when January pork sold at
$14. 3212, May pork at S14 S2l2. January ribs
at SITE and January lard at S7.15.
THE ROUTINE REPORT.
CHICAGO Nov. 25.-The weather map
showed rain throughout nearly all the winter
wheat belt, and this in addition to the rains
reported from there for the two previous
days made very sensational news on the
board of trade to-day. The growing winter
wheat crop, which was seriously threatened
with disaster, was regarded as in fair way
to stand the coming winter The news was
bearish of course and May opened at S2S4c,
full l2c lower than it closed Wednesday
night 1t dropped to S2S8c in the first few
minutes trading, but the fighting was sharp.
and the indications were that the bulls would
hold the price about that figure the rest of the
session. May corn opened lac lower than
Wednesdays close at 49Ac, but Immediately
went up TO 49l2c and was strong at that.
Pork opened a fraction Off at S13SIl2,
Immediately selling at $685.. 1t did not
take long for prices to assume quite decided
strength after the first bear rush was over.
Wheat got up TO S3c, corn to 0O4c for May,
while pork at the beginning OF the 1880 call
was S1417I2. Local buying in corn was
particularly active and the market strong at
5014c an hour after the opening. AS the
morning session advanced a pronounced
bullish tone developed in everything on the
floor and advances became very steady and
regular. Probably the greatest activity was
in corn, which from an opening of 49l4C for
Nav advanced to 50S4c before u o'clock.
The trade i'll this pit was enormous; at times
pretty much everybody wanted some, and
special feature of the session was the activity
and advance in oats. Traders seemed to
have concluded that this grain has not been
subjected to much, if any, active manipula-
ton lately, and with strength prevailing all
around them they are very apt TO advance.
This theory was the basis for very liberal
buying. mostly in the May option. which
opened at 31Isc and advanced TO 32c The
provision market was strong ali through the
day. The January options i'll pork advanced
during the morning from Sl3.S1l2 to Sl4.30.
Following are the closing prices for the day:
May wheat, 75s4c: May corn, 46Isc; May
oats 2S34c; January pork, S14.40; January
lard. S7.22I2; January short ribs, S7.21l2.
THE QUOTATIONS..
The leading futures ranged as follows.
Wheat-NO. 2, December, opened at 75S4c,
Tora1 OLE of
76ssc; February, 77Isc. closing at 77Ac;
May, S234c, closing at S27sc. Corn-No. 2,
November, opened at 4514c, closing at 46Isc;
December, 445sc, closing at Acc; January,
at 507sc. Oats-No. >, December, 27S4c
closing at 2SI2c; May. 3I4c. closing at
32Isc. Mess Pork-per Dbl, January, opened
at S13.9712, closing at S1427l2; February
S14.75. Lard-per 100 lbs, December opened
at 81, closing at S7.07l2; January, S7.02I2,
closing at S7.12I2; February, SIS, closing
at S7.22I2; May, S7.35, closing at S7.45;
closing at 81. 17l2; February. 81. 12l2, closing
at S7.27I2; March, 81 Dole, closing at S7.37l2.
Cash quotations were as follows: Flour
ruled quiet and sales were light Wheat
No. red, 7614c. Corn-No. ,. Ace. Oats
No. ., 2984c. Rye-No. 2, 55c. Barley
No. .. 55677c. Flax Seed-No. l. 81 .20@
1.2OI2. Timothy Seed-Prime, 81, 2s6 30.
1e ss iod T ibs s7T6a7 Short ribs ses
loose. Sc. IO6s7.15: dry sailed shoulders.
boxed. S5.5OQ6; short clear sides, boxed,
$7.4O@7.45. Whisky-Distillers' finished
goods, per gal, .S1.10. Sugars-Cut loaf,
7A@7S4c; graduated, 67sc bid: standard A,
6I2c Did. Receipts-Flour, 23,660 bbls;
wheat. 71.OOO bu; corn, 10000 bu; oats,
$4,000 bu; rye, 1000 bu; barley. $4,000
bu ShipmentS-Flour.5 80, 700 bbls; wheat
$4,000 bu; corn, 2S600O bu; oats, $1,000
bu: rye, LOCO gu: barley. A., 900 bu. On the
produce exchange to-day the butter market
was easier; creamery. quoted, &c bid.
dairy, 23c bid. Eggs, zoe bid.